Namibia’s Competition Commission approved June 13 the acquisition by Weatherly International of an additional 65% state in China Africa Resources Namibia (CARN) which  holds 100% of the Berg Aukas zinc-lead-vanadium project. The company reported that all prerequisites were met, and the acquisition was completed in accordance with the terms of its agreement with Hong Kong East China...

The Ugandan government plans to adopt new tax relief measures to encourage investments within the country, the Uganda Revenue Authority (URA) said June 12. According to information relayed by Xinhua, the measures should exempt companies in free zones and industrial parks from taxes, with a particular focus on those with projects of at least $200 million, over a 10-year period. By doing so,...

In Nigeria, the construction of Dangote group’s subsea gas pipeline is expected to generate additional 12,000 MW to meet demand, a capacity well above the average of 3,000 MW currently produced by national grid. Dangote group also plans to construct, near its refinery complex, a 570 MW gas-fired power plant whose completion is scheduled for 2019. “I have made very firm commitment to...

Côte d’Ivoire and Ghana will adopt a common policy on the volume and timing of cocoa exports for the 2019/2020 season. Joseph Aidoo, head of Cocobod, told Reuters. This strategy aims to discharge the global market and boost cocoa world prices which dropped by 40% in 2017, significantly affecting the two countries. “The price of cocoa is not decided by us producers. We must change this...

In 2017, Mozambique’s timber shipments generated about MT5 billion (around $84.5 million). Xavier Sakambuera, head of the National Forest Directorate at the agriculture ministry, reports. According to the official, this good performance was spurred by the government-led policy to promote processed forest products which helps revive wood processing industry and generates new jobs. For the...

Tunisia will receive $759 million from the World Bank and the International Monetary Fund (IMF) to finance government spending. Marouane El Abassi (photo), governor of the country’s Central Bank (BCT) revealed. According to the official, relayed by Maghreb Emergent, a first tranche of $500 million should be provided by World Bank at the end of this month. This financing granted as a...

The African Trade Insurance (ATI) agency plans to raise its trade and investment portfolio from $3.5 million (expected at the end of 2018) to $7 billion by 2022. According to Reuters which reported the news June 12, quoting an agency manager, this increase will be driven by financial commitments from about twenty new members. CEO George Otieno indicated that the insurer’s annual...

Tharisa Minerals announced today June 13 it has acquired a 26.8% stake in Karo Mining Holding for $45 million. Karo is active on a Platinum Group Metals (PGM) project in Grand Dyke rock formation which hosts low-cost open-pit PGM deposits at significant palladium and base metal grades. This acquisition gives Tharisa access to a 23,903 hectare area containing a 96 million ounce PGM resource...

The Ivorian government plans to tighten cocoa export rights’ granting condition, two sources at the Cocoa Coffee Council (CCC) told Reuters. This measure aims to avert new payment defaults from local exporters. Bidders for export rights will now have to obtain strong financial commitments from banks and counterparties involved in their operations. Similarly, CCC intends to fine banking...

The Conakry-located General University Lansana CONTE of Sonfonia, hosted an international conference entitled “Land tenure issues and sustainable development prospects: Challenges for Africa” (Problématique foncière et perspectives de développement durable: quels défis pour l’Afrique ?). According to Guinée Matin which reported the news, this workshop was initiated by UNESCO Chair,...